ALTERNATIVE BEHAVIORAL APPROACHES TO VALUE-OF-TIME MODELS WITH IMPLICATIONS FOR NONTRADERS

In the choice mechanism leading to the decision to travel, several categories of nontraders of time-cost attributes can be identified and probably make up most of the traveling population. Alternative conceptual approaches to the choice mechanism are reviewed, and their relative merits are discussed in terms of their implications for nontraders. Utility theory, the prevalent approach, is based on the premise that the value of time is a significant choice variable in the trading behavior of the trip-maker. For this, 3 behavioral assumptions are required: utilities can be added so as to obtain generalized costs, attributes can be compared between alternative modes, and alternatives can be clearly separated rather than lumped together. The theory of decision-making, and particularly the modified lexicographic approach or elimination-by-aspects model, possibly provides simpler and more realistic sets of behavioral assumptions: the grouping of attributes by the their being shared by alternatives and the search mechanism that considers first vital and subsequently compensatory attributes. Absolute levels of costs and times can be considered as vital attributes, and costs or time time savings as compensatory attributes. Also, following the logic of the elimination-by-aspects model, the present policy of developing additional transit modes is more likely to hurt existing transit modes than to decrease the level of car-owner, nontrader traffic.

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  • Accession Number: 00081608
  • Record Type: Publication
  • Files: TRIS, TRB, ATRI
  • Created Date: Apr 8 1975 12:00AM